Basis of Presentation |
6 Months Ended |
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Jun. 30, 2026 | |
| Organization, Consolidation and Presentation of Financial Statements [Abstract] | |
| Basis of Presentation | Basis of Presentation The unaudited financial information included in this report includes the accounts of FIS and its subsidiaries and has been prepared in accordance with U.S. generally accepted accounting principles and the instructions to Form 10-Q and Article 10 of Regulation S-X. All adjustments considered necessary for a fair presentation have been included. This report should be read in conjunction with the Company's Annual Report on Form 10-K for the year ended December 31, 2025. The preparation of these consolidated financial statements in conformity with United States ("U.S.") generally accepted accounting principles ("GAAP") and the related rules and regulations of the U.S. Securities and Exchange Commission ("SEC" or "Commission") requires our management to make estimates, judgments and assumptions that affect the reported amounts of assets, liabilities, revenue and expenses, and the related disclosure of contingent assets and liabilities. The inputs into management's critical and significant accounting estimates consider the economic impact of inflation and economic growth rates. These estimates may change as new events occur and additional information is obtained. Future actual results could differ materially from these estimates. To the extent that there are differences between these estimates, judgments and assumptions and actual results, our consolidated financial statements will be affected. On January 31, 2024, the Company completed the sale ("the 2024 Worldpay Sale") of a 55% equity interest in its Worldpay Merchant Solutions business to private equity funds managed by GTCR, LLC (such funds, the "Buyer"). FIS retained a non-controlling 45% equity interest in a new standalone joint venture, Worldpay Holdco, LLC ("Worldpay"), following the closing of the 2024 Worldpay Sale. FIS' share of the net income (loss) of Worldpay was reported as Equity method investment earnings (loss), net of tax, in the consolidated statements of earnings (loss). See Note 2 for further information. On January 9, 2026, FIS completed its previously announced (i) acquisition of the Issuer Solutions business (the "Issuer Solutions Business") from Global Payments Inc. ("Global Payments") (the "Issuer Solutions Acquisition") and (ii) sale of all of its equity interests in Worldpay (the "2026 Worldpay Minority Interest Sale"), pursuant to the transaction agreement (the "Transaction Agreement"), entered into on April 17, 2025, by and among FIS, Global Payments, Total System Services LLC, and Worldpay. FIS acquired the Issuer Solutions Business from Global Payments in exchange for FIS' minority interest in Worldpay and approximately $7.7 billion in cash, which is equal to the difference between the purchase price payable by FIS in respect of the Issuer Solutions Business and the purchase price payable by Global Payments in respect of FIS' minority interest in Worldpay. The cash payment amount is subject to customary post-closing adjustments in respect of the respective purchase price for each of Worldpay and the Issuer Solutions Business. The purchase price paid by Global Payments in respect of Worldpay was based on a $24.25 billion enterprise valuation of Worldpay, and the purchase price paid by FIS in respect of the Issuer Solutions Business was based on a $13.5 billion enterprise valuation of the Issuer Solutions Business, in each case, subject to customary adjustments for the cash, debt and working capital (relative to a target) of Worldpay and the Issuer Solutions Business, respectively, as of the closing of the transactions. We funded the Issuer Solutions Acquisition through a combination of approximately $7.7 billion of new debt and the 2026 Worldpay Minority Interest Sale. We continued to account for our non-controlling 45% equity interest in Worldpay using the equity method of accounting through the closing date of the 2026 Worldpay Minority Interest Sale. Upon closing, we recorded a preliminary estimated pre-tax gain of $2.2 billion based on the excess of the net selling price over the carrying value of the Worldpay equity method investment as of the date of closing, adjusted for the impact of our share of Worldpay's cumulative translation adjustments recorded in accumulated other comprehensive earnings (loss). The estimated gain remains subject to change based on the resolution of post-closing purchase price adjustments, and the final gain could differ materially from the current estimate. Effective upon the closing of the Issuer Solutions Acquisition, we entered into an agreement with Global Payments providing for transition services (the "Global Payments TSA") and reverse transition services (the "Global Payments rTSA"). Under the Global Payments TSA, Global Payments provides certain technology, finance, human resources, and other support services to us. Under the Global Payments rTSA, we provide certain technology and operational support services to Global Payments. The agreement extends for up to 24 months from the effective date, and individual services are terminable earlier or extendable by mutual agreement. Charges are based on actual costs plus applicable fees and out-of-pocket expenses. We do not expect this agreement to have a material impact on our consolidated financial statements. As a result of the Company's acquisition of the Issuer Solutions Business, the Company reassessed its reportable segments and included the Issuer Solutions Business within the Banking Solutions segment. In connection with this reassessment, the Company also reclassified certain businesses among the Banking Solutions, Capital Market Solutions, and Corporate and Other segments. All prior‑period segment information was recast to conform to the Company's revised reportable segment presentation. See Note 11 for more information regarding our segments. Additional reclassifications were made in the 2025 consolidated financial statements to conform to the 2026 presentation. Specifically, acquisition, integration and other costs presented in Note 11, "Segment Information," were reclassified into updated categories, and prior-year comparative amounts were reclassified to conform to current-period presentation. Amounts in tables in the financial statements and accompanying footnotes may not sum or calculate due to rounding. Recently Adopted Accounting Guidance No recently adopted accounting pronouncements had a material impact on our consolidated financial statements or disclosures. Recent Accounting Guidance Not Yet Adopted There have been no material changes to the Company's assessment of recently issued accounting pronouncements from that disclosed in the Company's Annual Report on Form 10‑K for the year ended December 31, 2025. In May 2026, the FASB issued ASU 2026-02, Environmental Credits and Environmental Credit Obligations (Topic 818). The ASU improves the financial accounting for and disclosure of environmental credits and environmental credit obligations by establishing a comprehensive framework for entities that generate, purchase, or receive environmental credits. This guidance is effective for annual periods beginning after December 15, 2027, including interim periods within those fiscal years, with early adoption permitted. The amendments are required to be applied using a modified retrospective approach through a cumulative-effect adjustment to beginning retained earnings, if applicable. The Company is currently evaluating the impact of this ASU on its consolidated financial statements and related disclosures.
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